yes you can overdub with a different channel, you'll have to do that on the input side of the track -> so you'll have to change the MIDI setting of your controller/keyboard
when you set the output MIDI channel parameter of a track, it will modify the output (all events on the track will be sent out on that channel, ignoring the original midi channels of the events, but not modifying any event data)
when you do a mix/merge of that track, the outputsetting will be baked into all events of that track.
by the way: if you do not want to change the midi channel of your controller/keyboard, you can achieve the same result by using a temp. track.
just use an empty track, and set the outputchannel to the desired one. If you merge that track onto an existing one, the outputsetting will be baked too.
example:
- rec on track 1, set output channel to 1
- rec on track 2, set output channel to 2
-> if you now merge both tracks, you'll end up with a single track containing 2 sequences on different midichannels
ps: if you later want to split up by midichannel, you can use the 'explode' function